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Erik Karlsson's Trade Situation Finally Comes Into Focus


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Jack Sutherland
June 24, 2025  (10:16)
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Penguins defenseman Erik Karlsson in pre-game warmup
Photo credit: Yahoo News

The Pittsburgh Penguins are reportedly looking to move on from defenseman Erik Karlsson and his hefty contract, and his trade situation is now better known.

While Pittsburgh Penguins general manager Kyle Dubas has already made a major change in leadership behind the bench for his club, there could be more leadership changes coming on the ice.
Veteran defenseman Erik Karlsson, who just completed his 2nd year with the Penguins after having previously been acquired in a blockbuster trade with the San Jose Sharks, is reportedly once again on the trade block.
Via David Pagnotta of The Fourth Period, Karlsson would be willing to waive his no-trade clause for a contending club.
Penguins GM Kyle Dubas has been actively exploring the market on defenceman Erik Karlsson, who comes with a $10 million cap hit and has two years left on his contract.

Karlsson owns a full no-movement clause, but is willing to waive it for the right contending team, and the Penguins may be willing to retain a portion of his salary to help facilitate a trade. The club has all three retention slots available for this upcoming season.
Karlsson was acquired from the Sharks in August 2023 as part of a 3-team trade with the Sharks and Montreal Canadiens.
Dubas traded a 2024 1st round pick, forward Mikael Granlund and defenseman Jan Rutta to the Sharks and goalie Casey DeSmith, defenseman Jeff Petry, a 2025 2nd round pick and prospect Nathan Legare to the Canadiens as part of the deal to acquire Karlsson.
Karlsson has 2 years left on his current contract with an AAV (average annual value) of $11.5 million.
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Erik Karlsson's Trade Situation Finally Comes Into Focus

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